Piraeus Bank expands financing to entities that promote ESG standards
These criteria combine growth and economic performance with social and environmental sustainability
Piraeus Bank, in the context of its broader strategy to support the sustainable development of the Greek economy and businesses and the harmonization of its operations with the Principles of Responsible Banking, provides financing to selected companies, with criteria related to Environment, Society and Corporate Governance ( Environmental, Social and Governance - ESG).
These criteria combine growth and economic performance with social and environmental sustainability and play a key role in the ability of companies to absorb the resources of the Recovery Fund but also to attract investment interest.
Piraeus is the first Bank in Greece to provide financing with ESG characteristics and environmental sustainability clauses in sectors, from energy and industry until recently shipping, proving in practice its commitment to promoting a cyclically sustainable economy.
Under the relevant agreements, companies are committed to supporting sustainable development, setting specific goals on a case-by-case basis, including:
- Optimizing their energy efficiency by reducing final energy consumption per unit of product produced
- Reducing CO2 emissions per unit of product produced
- Reducing water consumption per unit of product produced
- The reduction of waste from their production process
- Increasing the use of recycled raw materials
- The implementation of environmental and energy management systems, such as ISO 14001 and ISO 50001